My children turn down early inheritance

Many young people hope to inherit their parents' wealth early in life, often overlooking the fact that their parents need the money most in their later years. As we age, our health declines, making it harder to earn income while expenses rise. These costs are often unpredictable, unavoidable, and impossible to bargain down. No one knows how long they will live, and the elderly frequently need caregivers, adding to the financial burden.

In old age, social connections and economic opportunities shrink, making it harder to rely on others for help. A financial safety net becomes crucial for aging parents. Meanwhile, adult children are busy managing their own families, balancing the needs of their spouses and other responsibilities. Unless a parent's financial situation is urgent, expecting significant support from children is unreasonable.

Parents often prioritize their children, but children naturally focus on their own families. When my wife and I retired, we gathered our children to discuss giving them our business and rental properties. We planned to keep just two homes for ourselves: one to live in and one to rent out for income.

To our surprise, our children declined. They insisted the rental income would help us maintain a good quality of life and enjoy our retirement on our terms. My daughter refused any inheritance, leaving the business entirely to her brother to continue as our "spiritual child." Now that their lives were stable and financially independent, they wanted us to keep the remaining assets for our enjoyment.

After retiring, I realized just how expensive life can be. Between us and our parents, each person faces multiple health challenges. Without pensions or retirement benefits, even earning VND100 million (US$3,930) a month from rental income barely covers our expenses. Unexpected costs, such as travel, major events, or hospitalizations, often amount tens of millions of dong at a time.

Thanks to this arrangement, our family remains happy and at peace. I have had several near-death experiences but recovered each time. My wife has lived for 30 years after heart surgery, and my father, despite his cancer, is still writing poetry at 100. Sadly, my mother passed away after a long illness.

Everyone’s situation is different, but the money you save today will determine the quality of your life in old age. I urge everyone to save while they are young and capable, so they can support their children while ensuring their own happiness and fulfillment in their later years.

Would you leave wealth for your children or let them start with nothing?

*This opinion was translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.